ALTCOINDOGECOIN

1 Billion dogecoin scam in Turkey

A scammer in Turkey allegedly managed to steal $119 million (€100 million) from investors. The scammer promised the investors massive returns from Dogecoin mining, according to Turkish media.

The online pseudonym “Turgut V” has been identified by the police. According to local news channel TV100, the police believe that  Turgut V is behind the scheme.

It is believed that Turgut along with 11 associates managed to accumulate almost 350 million Dogecoin costing $119 million from 1,500 people before disappearing.

It has been investigated that the investors were convinced by Turgut V through Zoom calls and at in-person networking meetings at luxury locations, in order to buy Dogecoin and hand them over to invest in mining technology, promising huge returns.

Reports informed that the investors were promised a 100 per cent return within 40 days.

One victim told that the system was working good for three months. In the beginning, investors received the returns as promised but after the scheme peaked at 350 million Dogecoin in the fourth month, the funds were said to have disappeared.

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